Common use of Residual Value Guarantee Amount Payment by Lessee Clause in Contracts

Residual Value Guarantee Amount Payment by Lessee. The payment by the Lessee of the Residual Value Guarantee Amount to the Agent in accordance with Article XXII of the Lease upon the Lessee's exercise of the Remarketing Option shall be distributed by the Agent as promptly as possible (it being understood that any such payment received by the Agent on a timely basis in accordance with the provisions of the Lease shall be distributed on the date on which such funds are so received) in the following order of priority: first, to the Tranche A Participants for application to pay in full the Tranche A Participation Interest Balance of each Tranche A Participant; second, to the Tranche B Participants for application to pay in full the Tranche B Participation Interest Balance of each Tranche B Participant, and in the case where the amounts so distributed shall be insufficient to pay in full as aforesaid, then pro rata among the Tranche B Participants without priority of one Tranche B Participant over the other in the proportion that each such Tranche B Participant's Tranche B Participation Interest Balance bears to the aggregate Tranche B Participation Interest Balances of all Tranche B Participants; and third, to the Tranche C Participants for application to redeem the Tranche C Participation Interest Balance of each Tranche C Participant, and in the case where the amounts so distributed shall be insufficient to fully redeem as aforesaid, then pro rata among the Tranche C Participants without priority of one Tranche C Participant over the other in the proportion that each such Tranche C Participant's Tranche C Participation Interest Balance bears to the aggregate Tranche C Participation Interest Balances of all Tranche C Participants.

Residual Value Guarantee Amount Payment by Lessee. The payment by the Lessee of the Residual Value Guarantee Amount to the Agent in accordance with Article XXII of the Lease upon the Lessee's exercise of the Remarketing Option shall be distributed by the Agent as promptly as possible (it being understood that any such payment received by the Agent on a timely basis in accordance with the provisions of the Lease shall be distributed on the date on which such funds are so received) in the following order of priority: first, to the Tranche A Participants for application to pay in full the Tranche A Participation Interest Balance of each Tranche A Participant; and second, to the Tranche B Participants for application to pay in full the Tranche B Participation Interest Balance of each Tranche B Participant, and in the case where the amounts so distributed shall be insufficient to pay in full as aforesaid, then pro rata among the Tranche B Participants without priority of one Tranche B Participant over the other in the proportion that each such Tranche B Participant's Tranche B Participation Interest Balance bears to the aggregate Tranche B Participation Interest Balances of all Tranche B Participants; and third, to the Tranche C Participants for application to redeem the Tranche C Participation Interest Balance of each Tranche C Participant, and in the case where the amounts so distributed shall be insufficient to fully redeem as aforesaid, then pro rata among the Tranche C Participants without priority of one Tranche C Participant over the other in the proportion that each such Tranche C Participant's Tranche C Participation Interest Balance bears to the aggregate Tranche C Participation Interest Balances of all Tranche C Participants.

Residual Value Guarantee Amount Payment by Lessee. The ------------------------------------------------- payment by the Lessee of the Residual Value Guarantee Amount to the Agent in accordance with Article XXII of the Lease (including payment by means of offset against the Defeasance Deposit) upon the Lessee's exercise of the Remarketing Option shall be distributed by the Agent as promptly as possible (it being understood that any such payment received by the Agent on a timely basis in accordance with the provisions of the Lease shall be distributed on the date on which such funds are so received) in the following order of priority: first, to the Tranche A Participants for application to pay in full ----- the Tranche A Participation Interest Balance of each Tranche A Participant; and second, to the Tranche B Participants for application to pay in full ------ the Tranche B Participation Interest Balance of each Tranche B Participant, and in the case where the amounts so distributed shall be insufficient to pay in full as aforesaid, then pro rata among the Tranche B Participants --- ---- without priority of one Tranche B Participant over the other in the proportion that each such Tranche B Participant's Tranche B Participation Interest Balance bears to the aggregate Tranche B Participation Interest Balances of all Tranche B Participants; and third, to the Tranche C Participants for application to redeem the Tranche C Participation Interest Balance of each Tranche C Participant, and in the case where the amounts so distributed shall be insufficient to fully redeem as aforesaid, then pro rata among the Tranche C Participants without priority of one Tranche C Participant over the other in the proportion that each such Tranche C Participant's Tranche C Participation Interest Balance bears to the aggregate Tranche C Participation Interest Balances of all Tranche C Participants.